Labour would extend windfall tax to prevent rising bills in April – Reeves

The transcript discusses the extension of the windfall tax to ensure those profiting from war contribute to reducing costs for others. It outlines plans to close fossil fuel investment loopholes and tax oil and gas companies at rates similar to Norway, backdating to 2022. The Labour government aims to pass savings to families, reducing energy bills by maintaining the energy price guarantee at £2500. The transcript emphasizes the need for the cap to decrease if wholesale prices fall, highlighting the unfairness of higher costs for those with the least resources.

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